For the Data Given below, which function would you use to count the number of salespeople who exceeded both their Q1 and Q2 quotas. | | A | B | C | D | |---|---|---|---|---| | 1 | Salesperson | Exceeded Q1 quota | Exceeded Q2 quota | Exceeded Q3 quota | | 2 | Kent | Yes | No | No | | 3 | Wayne | Yes | Yes | No | | 4 | Oliver | Yes | Yes | Yes | | 5 | Allen | No | Yes | Yes |

(B) COUNTIFS(B2:B5,"=Yes",C2:C5,"=Yes")

(A) COUNT(A2:A5,"=Yes",C3:C5,"=Yes")

(C) COUNTIF(B2:B5,"=Yes",C2:C5,"=Yes")

(D) COUNTA(C2:C5,"=Yes",D2:D5,"=Yes")

Question text with an "Approval vs Decline Rate" line chart of Approved and Declined percentages for Jan to Apr

(C) Both Decrease in the declining rate of credit applications \& Increase in the approval rate of credit applications

(A) Decrease in the declining rate of credit applications

(B) Increase in the approval rate of credit applications

May 2024 term · Business Data Management · BSMS2001

Business Data Management End Term: 1 September 2024 (May 2024 term)

The IIT Madras BS Business Data Management (BDM) End Term paper sat on 1 Sept 2024, in the May 2024 term: 23 questions for 30 marks in 180 minutes. Every question is below with its answer. Take it as a timed mock test to be marked, or read it through first.

Questions: 23
Marks: 30
Duration: 180 min
MCQ: 22
Numerical: 1

Take as mock test Practise with answers

Updated 25 Sept 2026

Official paper: IIT M FOUNDATION DIPLOMA FN EXAM QDF1 01 Sep 2024 · No negative marking.

Question 1

+1 markOne correct option

In the economic flow, what role do households typically play?

A
Suppliers of capital
B
Producers of goods
C
Consumers of goods and services
D
Regulators of the economy

Show answer

Correct answer

C
Consumers of goods and services

Question 1 on its own page

Question 2

+1 markOne correct option

What are the roles that the Government plays in the economic circular flow model?

A
Producer and Consumer
B
Moderator and Participant
C
Both Producer and Consumer & Moderator and Participant
D
None of these

Show answer

Correct answer

C
Both Producer and Consumer & Moderator and Participant

Question 2 on its own pageAlso asked in Quiz 2 16 Mar 2025, Quiz 2 3 Aug 2025

Question 3

+1 markOne correct option

What kind of goods’ demand decreases as income increases?

A
Superior Good
B
Inferior Good
C
Luxury Good
D
Supply Good

Show answer

Correct answer

B
Inferior Good

Question 3 on its own pageAlso asked in Quiz 2 16 Mar 2025

Question 4

+1 markOne correct option

For the Data Given below, which function would you use to count the number of salespeople who exceeded both their Q1 and Q2 quotas.

	A	B	C	D
1	Salesperson	Exceeded Q1 quota	Exceeded Q2 quota	Exceeded Q3 quota
2	Kent	Yes	No	No
3	Wayne	Yes	Yes	No
4	Oliver	Yes	Yes	Yes
5	Allen	No	Yes	Yes

A
COUNT(A2:A5,"=Yes",C3:C5,"=Yes")
B
COUNTIFS(B2:B5,"=Yes",C2:C5,"=Yes")
C
COUNTIF(B2:B5,"=Yes",C2:C5,"=Yes")
D
COUNTA(C2:C5,"=Yes",D2:D5,"=Yes")

Show answer

Correct answer

B
COUNTIFS(B2:B5,"=Yes",C2:C5,"=Yes")

Question 4 on its own page

Question 5

+1 markOne correct option

Which of the following is a comprehensive data source that covers every single household in a country?

A
Annual Survey of Industries
B
National Sample Survey
C
Census
D
Economic Census

Show answer

Correct answer

C
Census

Question 5 on its own page

Question 6

+1 markOne correct option

Which of the following is an example of a non-government data source?

A
Economic Census
B
National Sample Survey
C
Center for Monitoring Indian Economy (CMIE)
D
Annual Survey of Industries

Show answer

Correct answer

C
Center for Monitoring Indian Economy (CMIE)

Question 6 on its own page

Question 7

+1 markOne correct option

The number of heavy vehicle driving licenses issued can be used as a _________ of the potential market size for trucks. (Fill in the Blank with the appropriate response)

A
Lead Indicator
B
Lag Indicator
C
Supplement Indicator
D
Surrogate Indicator

Show answer

Correct answer

D
Surrogate Indicator

Question 7 on its own page

Question 8

+1 markOne correct option

Which of the following statements best describes the difference between a niche market and a mass market?

A
A niche market targets a small, specific group of customers with specialized needs, while a mass market targets a large, broad group of customers with general needs.
B
A niche market involves offering lower-priced products to a wide audience, whereas a mass market involves offering high-end products to a small, exclusive group.
C
A niche market typically requires large-scale advertising campaigns to reach a broad audience, while a mass market relies on word-of-mouth and targeted marketing.
D
A niche market focuses on standard products that appeal to everyone, while a mass market customizes products to fit individual customer preferences.

Show answer

Correct answer

A
A niche market targets a small, specific group of customers with specialized needs, while a mass market targets a large, broad group of customers with general needs.

Question 8 on its own page

Question 9

+1 markOne correct option

What does ABC analysis primarily focus on?

A
Classifying inventory items based on their unit cost
B
Categorizing inventory items based on their reorder points
C
Grouping inventory items based on their annual monetary usage
D
Ranking inventory items based on their lead times

Show answer

Correct answer

C
Grouping inventory items based on their annual monetary usage

Question 9 on its own page

Question 10

+1 markOne correct option

Which of the following statements is not true about the benefits of implementing an ERP system?

A
Increased data redundancy
B
Improved data accuracy and consistency
C
Increased process efficiency
D
Increased visibility into business operations

Show answer

Correct answer

A
Increased data redundancy

Question 10 on its own pageAlso asked in Quiz 2 23 Nov 2025

Question 11

+1 markOne correct option

Which of the following is typically not a component of the “job description”?

A
Skills required for the job
B
Key responsibilities
C
Job performance indicators
D
Recruitment process

Show answer

Correct answer

D
Recruitment process

Question 11 on its own pageAlso asked in End Term 7 Aug 2022, End Term 7 Aug 2022

Question 12

+1 markOne correct option

A
Decrease in the declining rate of credit applications
B
Increase in the approval rate of credit applications
C
Both Decrease in the declining rate of credit applications & Increase in the approval rate of credit applications
D
None of these

Show answer

Correct answer

C
Both Decrease in the declining rate of credit applications & Increase in the approval rate of credit applications

Question 12 on its own page

Question 13

+1 markOne correct option

Company Orange wants to recruit Software Engineers for its new project. The hiring manager was tasked with choosing the appropriate hiring channel. The manager collected previous hiring data (provided in the table below) to help narrow down the appropriate channel. All channels advertised for the vacant positions on the same day. Which channel has the worst selection success rate? The Selection success rate is defined as the no. of candidates selected to the no. of applications shortlisted

Recruitment Channels	Application Received in 14 days	Application Shortlisted	No. of Candidates appeared for Interview	No. of Candidates Selected	Cost of Advertisement for 14 Days (INR)
Employee Referrals	40	32	24	12	120000
Direct Company Website	60	12	8	2	5000
Social and Professional Media	260	36	16	4	20000
Hiring Portals	220	90	30	6	100000
Print Ads	20	10	8	1	50000

A
Hiring Portals
B
Social and Professional Media
C
Print Ads
D
Employee Referrals

Show answer

Correct answer

A
Hiring Portals

Question 13 on its own page

Question 14

+1 markOne correct option

When should A/B test be done?

A
After deploying the model in real world
B
After training the model, before testing on test data
C
Before training the model
D
Before deploying the model in real world

Show answer

Correct answer

A
After deploying the model in real world

Question 14 on its own page

Question 15

+1 markOne correct option

How do online payment companies make money?

A
Interest from loans/credit
B
Transaction fees (a small cut from the transaction)
C
Monthly subscription
D
Both Interest from loans/credit and transaction fees

Show answer

Correct answer

D
Both Interest from loans/credit and transaction fees

Question 15 on its own page

Question 16

+1 markOne correct option

What role does personalized recommendation play in nudging consumers on e-commerce sites?

A
To display clickbaits and flashy products to increase website traffic
B
To offer the same discounts to all customers, ensuring fairness
C
To suggest products based on browsing history, increasing the likelihood of purchase
D
To highlight best-selling products only, irrespective of the user’s interest

Show answer

Correct answer

C
To suggest products based on browsing history, increasing the likelihood of purchase

Question 16 on its own page

Question 17

+2 marksOne correct option

Match the Following

A
1-b,2-d,3-a,4-c
B
1-d,2-b,3-c,4-a
C
1-a,2-c,3-b,4-d
D
1-c,2-a,3-d,4-b

Show answer

Correct answer

A
1-b,2-d,3-a,4-c

Question 17 on its own page

Question 18

+2 marksOne correct option

A customer makes a transaction through an online payments platform ‘PayKaro’ using ‘BCCI Bank Credit Card’ in Klipkart to buy a shoe. Which of the following is true chronologically?

A
Customer pays BCCI, BCCI pays Klipkart, Klipkart pays PayKaro
B
BCCI pays PayKaro, PayKaro pays Klipkart, Customer pays BCCI
C
Customer pays BCCI, BCCI pays PayKaro, PayKaro pays Klipkart
D
Customer pays PayKaro, PayKaro pays BCCI, BCCI pays Klipkart

Show answer

Correct answer

B
BCCI pays PayKaro, PayKaro pays Klipkart, Customer pays BCCI

Question 18 on its own page

Question 19

+2 marksOne correct option

Based on the data provided, answer the given subquestions

SKU	Product Name	Unit Price	Monthly Sales 1	Monthly Sales 2	Monthly Sales 3	Monthly Sales 4	Monthly Sales 5	Monthly Sales 6	Avg. Monthly Sales	Opening Stock
LAP001	NovaBook Pro	$1,299	100	120	150	180	200	220	161.7	290
LAP002	Stellar 15	$1,799	80	90	100	110	120	130	105.0	250
LAP003	QuantumBook 16	$2,499	50	60	70	80	90	100	75.0	190
LAP004	TitanBook X1 Carbon	$1,999	30	40	50	60	70	80	55.0	115
LAP005	EclipseBook x360	$1,499	20	30	40	50	60	70	45.0	95
LAP006	AuroraBook Studio	$1,199	10	15	20	25	30	35	22.5	50
LAP007	ZephyrBook 17	$999	5	10	15	20	25	30	17.5	40

Which SKU has the highest Days of Inventory?

A
LAP002
B
LAP003
C
LAP006
D
LAP007

Show answer

Correct answer

B
LAP003

Question 19 on its own pageAlso asked in Quiz 2 16 Mar 2025

Question 20

+2 marksOne correct option

Based on the data provided, answer the given subquestions

SKU	Product Name	Unit Price	Monthly Sales 1	Monthly Sales 2	Monthly Sales 3	Monthly Sales 4	Monthly Sales 5	Monthly Sales 6	Avg. Monthly Sales	Opening Stock
LAP001	NovaBook Pro	$1,299	100	120	150	180	200	220	161.7	290
LAP002	Stellar 15	$1,799	80	90	100	110	120	130	105.0	250
LAP003	QuantumBook 16	$2,499	50	60	70	80	90	100	75.0	190
LAP004	TitanBook X1 Carbon	$1,999	30	40	50	60	70	80	55.0	115
LAP005	EclipseBook x360	$1,499	20	30	40	50	60	70	45.0	95
LAP006	AuroraBook Studio	$1,199	10	15	20	25	30	35	22.5	50
LAP007	ZephyrBook 17	$999	5	10	15	20	25	30	17.5	40

If the profit margin for the sale of a laptop is 10%, what is the total profit earned from the sale of LAP005?

A
42505
B
40890
C
41782
D
40473

Show answer

Correct answer

D
40473

Question 20 on its own pageAlso asked in Quiz 2 16 Mar 2025

Question 21

+1 markOne correct option

Based on the data provided, answer the given subquestions

SKU	Product Name	Unit Price	Monthly Sales 1	Monthly Sales 2	Monthly Sales 3	Monthly Sales 4	Monthly Sales 5	Monthly Sales 6	Avg. Monthly Sales	Opening Stock
LAP001	NovaBook Pro	$1,299	100	120	150	180	200	220	161.7	290
LAP002	Stellar 15	$1,799	80	90	100	110	120	130	105.0	250
LAP003	QuantumBook 16	$2,499	50	60	70	80	90	100	75.0	190
LAP004	TitanBook X1 Carbon	$1,999	30	40	50	60	70	80	55.0	115
LAP005	EclipseBook x360	$1,499	20	30	40	50	60	70	45.0	95
LAP006	AuroraBook Studio	$1,199	10	15	20	25	30	35	22.5	50
LAP007	ZephyrBook 17	$999	5	10	15	20	25	30	17.5	40

What percentage of total revenue do the SKUs LAP004 and LAP005 contribute together?

A
10%
B
20%
C
15%
D
25%

Show answer

Correct answer

B
20%

Question 21 on its own pageAlso asked in Quiz 2 16 Mar 2025

Question 22

+3 marksNumerical answer

The Data given is of Shaktimaan Industries who manufacture specialized components for Aerospace application for the month of August 2024.

The factory functions for 2 shifts on weekdays and only one shift on Saturdays.
Assume a scrap rate of 10% per shift. For example, if a shift produces 152 components, the scrap will be 0.1*152 = 15.2.

However, since 15.2 scrap components makes no sense, consider it as 16.
The Assembly line was designed for a rated capacity of 125 units per shift.

AUGUST 2024

Monday	Tuesday	Wednesday	Thursday	Friday	Saturday	Sunday
			1<br>216	2<br>244	3<br>139	4<br>Holiday
5<br>212	6<br>282	7<br>248	8<br>278	9<br>284	10<br>Power Cut	11<br>Holiday
12<br>PM*	13<br>242	14<br>296	15<br>Holiday	16<br>288	17<br>106	18<br>Holiday
19<br>208	20<br>244	21<br>212	22<br>276	23<br>208	24<br>123	25<br>Holiday
26<br>206	27<br>272	28<br>UPM**	29<br>260	30<br>270	31<br>188

*PM – Planned Maintenance
**UPM – Unplanned Maintenance

Based on the above data, answer the given subquestions.

What is the OEE for the Friday shifts?
(express in terms of %, e.g., if answer is 0.7359, express it as 73.59)

Show answer

Correct answer: 93 (accepted within ±0.5)

Question 22 on its own page

Question 23

+2 marksOne correct option

The Data given is of Shaktimaan Industries who manufacture specialized components for Aerospace application for the month of August 2024.

The factory functions for 2 shifts on weekdays and only one shift on Saturdays.
Assume a scrap rate of 10% per shift. For example, if a shift produces 152 components, the scrap will be 0.1*152 = 15.2.

However, since 15.2 scrap components makes no sense, consider it as 16.
The Assembly line was designed for a rated capacity of 125 units per shift.

AUGUST 2024

Monday	Tuesday	Wednesday	Thursday	Friday	Saturday	Sunday
			1<br>216	2<br>244	3<br>139	4<br>Holiday
5<br>212	6<br>282	7<br>248	8<br>278	9<br>284	10<br>Power Cut	11<br>Holiday
12<br>PM*	13<br>242	14<br>296	15<br>Holiday	16<br>288	17<br>106	18<br>Holiday
19<br>208	20<br>244	21<br>212	22<br>276	23<br>208	24<br>123	25<br>Holiday
26<br>206	27<br>272	28<br>UPM**	29<br>260	30<br>270	31<br>188

*PM – Planned Maintenance
**UPM – Unplanned Maintenance

Based on the above data, answer the given subquestions.

What is the MAPE of the Thursday shifts?

A
0.1
B
0.15
C
0.2
D
0.25

Show answer

Correct answer

A
0.1

Question 23 on its own page